The trend on the EUR/USD pair remains bullish and the price has found a support at 1.0936. There’s a “Triple Bottom” pattern, which has been confirmed. It’s likely to see a rise to a zone between the resistance area 1.1032 – 1.1145 and the level at 1.1159. The downward movement subsequently has a possibility to start towards a support area between the 55 & 34 Moving Average lines.
The local downward trend has been broken and the price started rising towards a resistance at 1.1066 and the 89 Moving Average line. There’s a “Thorn” and a “Pennant” patterns. Moreover, it’s likely that we’ve got a “Head and Shoulders” in progress. In the short term we can expect the downward movement towards a support area between the 34 Moving Average line and the level 1.1011. The price might start rising afterwards to the upper side of a support area between the levels 1.1032 – 1.1145.
EUR/USD: technical analysis
EUR/USD, H4
EUR/USD, H1
Origin: FX BAZOOKA
